Tuesday, January 27, 2015

Guesstimates on January 27, 2015

March S&P E-mini Futures: Today’s range estimate is 2016-2036. I see strong support in the 2016-2020 range. If it holds the ES will soon resume its move to new bull market highs.  
QQQ: Support is at 99.00. The next step up should carry to 107.00
TNX (ten year note yield): I think the current flight to quality has dropped the note yield to 1.70% so far. I think the yield will not go below the historical low at 1.39% and estimate that the market will hold support at 1.60%.
Euro-US Dollar: The ECB’s quantitative easing program will drop the euro below 1.00 over the coming months. Resistance above the market is at 1.17.
Dollar-Yen: Support is at 116. The bull market has much further to go over the coming months. 140-45 is my longer term target zone.
March Crude:  The longer term trend in oil prices is downward and should carry this market down close to the 2008 low at 33. Resistance above the market is at 55.
February Gold:  Resistance at 1275 has been broken. Gold is headed up to 1350. I remain long term bearish with 1040 my initial downside target and 850 a longer term target.
March Silver: My bear market target remains 13.00. Resistance is now at 18.40.
Google:  GOOGL is in a long term down trend which is likely to carry it to 400 and possibly to 300. Resistance above the market is at 540.
Apple:  There is no reason for thinking the bull market is over. Next stop is 125. Support stands at 96.
Facebook: Upside target is 90. Support is 72.
Twitter: Support at 40 has been decisively broken. Twitter is in a bear market which is likely to carry it to 20.
Alibaba: Next upside target is 135.  Support is at 98.
Visa: Visa is headed up to 290. Support is at 250.

1 comment:

Bob said...

Gold is capped at $1310. No $1350 will be seen anytime soon. Fed action tomorrow. oh yes!